After receiving conflicting statements regarding reopening and depositor payments, AMA Bank requests clarification from the BSP

In response to the January 30, 2025, press release from the Bangko Sentral ng Pilipinas (BSP) titled "Statement on AMA Bank Case," AMA Rural Bank of Mandaluyong, Inc. (AMA Bank) requested clarification on the BSP's stance on the bank's reopening and its pending Motion for Reconsideration with the Supreme Court.

In contrast to BSP's own legal filings with the Court of Appeals and the Supreme Court, AMA Bank notes that the BSP's statement claimed that its pending second Motion for Reconsideration “does not prevent AMA Bank from reopening and paying its depositors and creditors.” 

BSP previously contended in its Comment/Opposition submitted to the Court of Appeals that the Supreme Court's pending second Motion for Reconsideration precluded the execution of AMA Bank's Motion for Execution. In addition, BSP claimed in its second Motion for Reconsideration submitted to the Supreme Court that AMA Bank could not be reopened in any way following its closure.

AMA Bank is now formally asking BSP to clarify whether it has given up on its second Motion for Reconsideration with the Supreme Court and its Comment/Opposition to AMA Bank's Motion for Execution with the Court of Appeals, given the apparent discrepancy between BSP's press release and its legal arguments. AMA Bank requests that the BSP formally withdraw these filings if it no longer supports them.

In accordance with the Supreme Court's and the Court of Appeals' final rulings, AMA Bank also wants to know if the BSP press release should be regarded as an official approval for the bank's reopening. If so, AMA Bank asks that the BSP provide written confirmation of this.

To facilitate the bank’s reopening for the sole and limited purpose of repaying its long-suffering depositors, AMA Bank is calling on BSP to take the following actions without further delay:

• Return AMA Bank’s reserve funds amounting to approximately Php135 million;
• Instruct the Philippine Deposit Insurance Corporation (PDIC) to return the bank’s cash assets totaling approximately Php340 million, which were seized under BSP’s now-nullified closure order;
• Advise the Department of Education (DepEd) to promptly release collections from teacher’s loans owed to AMA Bank, amounting to more than Php1.4 billion.

In the interest of its creditors and depositors, who have suffered through extended uncertainty as a result of the bank's closure, AMA Bank reaffirms its dedication to finding a solution to this issue. The bank calls on the BSP to take prompt, sincere action to restore its clients' financial stability and guarantee adherence to court orders.

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HUAWEI FreeClip

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HUAWEI FreeBuds Pro 4

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HUAWEI FreeBuds Pro 4

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HUAWEI FreeBuds SE 3

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HUAWEI FreeBuds SE3

Look Stylish While You Move Freely with the HUAWEI FreeClip

The Huawei FreeClip combines state-of-the-art audio technology with a chic, jewelry-inspired design to create immersive personal listening that looks as good as it sounds. With their new Rose Gold finish and lightweight 5.6g C-Bridge design, the earbuds look sleek and sophisticated while maintaining comfort and fit, making them ideal for fashion-conscious users with active lifestyles. By keeping the ear unblocked during workouts or commutes, the open-ear design puts health and safety first. 

HUAWEI FreeClip

The Dynamic Bass Algorithm, which powers the Huawei FreeClip, provides a remarkable audio experience with high-end sound quality. Head Motion Controls allow users to easily handle calls by shaking their heads or nodding. By warning users when an earbud hits a hard surface, Drop Reminders will help users feel more at ease. With the Huawei FreeClip's Dual Device Connection, switching between devices has never been simpler. With a playback time of up to 8 hours and a 36-hour total with the charging case, the Huawei FreeClip is the perfect partner for long workdays, lengthy trips, or intense study sessions.

With AI-powered call technology and an inverse sound field to prevent sound leakage, users can make hands-free, crystal-clear calls even in busy gyms or crowded transit. With an IP54 rating for resistance to dust and water, these earbuds can withstand anything. Users can maintain their active, on-the-go lifestyles while their Huawei FreeClip remains securely in place, whether they are working in cafes, working out at the gym, or riding a long bus.

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The HUAWEI FreeClip is available for PHP 9,999. Order yours on Shopee, Lazada, TikTok, HUAWEI Online Store, and HUAWEI Experience Stores nationwide, and get a freebie bundle with discount worth PHP 2,000 and a 1-year HUAWEI Loss Care Service (worth PHP 379) good for one-time use.

This exclusive offer is available from February 7 to March 9.

To learn more about HUAWEI’s audio devices, visit  the nearest HUAWEI Experience Store or check out HUAWEI’s official website or social media accounts (Facebook | Instagram).

About HUAWEI Consumer BG

HUAWEI's products and services are available in more than 170 countries and are used by a third of the world's population. Fifteen R&D centers have been set up in the United States, Germany, Sweden, Russia, India and China. HUAWEI Consumer BG is one of HUAWEI's three business units and covers smartphones, PC and tablets, wearables and cloud services, etc. HUAWEI's global network is built on over 30 years of expertise in the telecom industry and is dedicated to delivering the latest technological advances to consumers around the world.

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